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Superannuation funds who encourage low balance members not to opt out of insurance inside super have been placed on notice by the Australian Securities and Investments Commission.
Changes to anti-hawking regulations likely won’t impact insurance advisers as their discussions with clients on risk products generally fall within regulatory definitions of ‘solicited’, the Fold Legal believes.
The major accounting bodies have united to defend the existing tax deductibility of tax advice provided by accountants in the face of proposed Labor changes.
Chartered Accountants Australia and New Zealand have defended the tax deductibility of accountancy advice, vowing that accountants are not rorters.
Industry funds body, the Australian Institute of Superannuation Trustees has urged that insurance claims handling be subject to the financial advice rules – something which would deter ambulance-chasing law firms.
